Finance

Home page

Finance

IBAR and American Express extend cooperation

01 November 2012 13:53 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. The International Bank of Azerbaijan has extended its contract with American Express for another 6 years.

A relevant agreement was signed today in Baku by IBA First Deputy Chairman Emil Mustafayev and Alex Furber, Vice President for Business Development of American Express Global Network Services.

"We are pleased to be an exclusive partner of American Express and at the same time we are ready to cooperate with local banks. Weâ€™ve already signed a number of contracts with local companies to collaborate in the provision of American Express cards,â€ Mustafayev said.

He points out that given the fact that the number of credit card users among the countyâ€™s population has now increased, the IBA will continue to be involved in stimulating non-cash payment processes.

"We intend to provide quality services American Express, expand its customer base, in particular render services to foreigners coming to the country. A couple of contracts have been signed with existing hotels in the capital. Now, with the extension of an exclusive agreement with American Express, we intend to expand the number of our partners," Mustafayev said.

Alex Farber also said that the IBA is a worthy partner of American Express, and soon they will analyze the Azerbaijani market for the delivery of new products.

"The new products will be mainly provided to persons with incomes above the average category, in particular VIP customers who mainly use cards American Express. Our goal is to attract young people, particularly students, and provide them with services that meet their income. The main thing is to make sure that they would be our customers until the end of their life," Mr. Furber said.

According to Mr. Furber, the Azerbaijani market is changing from year to year and there is a serious development of cashless payments.
"We need to be sure that weâ€™re ready to provide services to customers, the number of whom grows as well as provide them with appropriate services," Mr. Furber said.

The IBA has been the exclusive partner of American Express in Azerbaijan since 2007.